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Blackstone Is in Talks to Buy the Bellagio and MGM Grand

  • Buyout firm discussing sale-leaseback with owner MGM Resorts
  • Potential deal would free up cash for Las Vegas casino giant
People view the water fountains at the Bellagio Resort & Casino in Las Vegas.
People view the water fountains at the Bellagio Resort & Casino in Las Vegas.Photographer: Bridget Bennett/Bloomberg

Blackstone Group Inc. is in advanced talks to buy and lease back the iconic Bellagio and MGM Grand Las Vegas casinos from MGM Resorts International, according to people with knowledge of the matter.

They have yet to agree on a transaction and one may not be reached, said the people, who requested anonymity because the talks are private. The terms of the potential deal couldn’t be learned.